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Diffstat (limited to 'design-documents/032-auctions.rst')
| -rw-r--r-- | design-documents/032-auctions.rst | 22 |
1 files changed, 11 insertions, 11 deletions
diff --git a/design-documents/032-auctions.rst b/design-documents/032-auctions.rst index 0f144988..3d8ccf0a 100644 --- a/design-documents/032-auctions.rst +++ b/design-documents/032-auctions.rst @@ -140,19 +140,19 @@ bid. The auction operator then runs the auction protocol with all participants until conclusion. Once the winner and price have been determined, the auction -operator POSTs the resulting transcript to a new ``/extensions/auction`` +operator POSTs the resulting transcript to a new ``/extensions/policy_auction`` endpoint of the exchange. Here, the extension-specific logic stores the transcript in its database (in a new table) and then simulates the auction -again (using libbrandt), again determining the winner and price. The -extension configuration (and thus ``/keys``) may stipendulate some fee(s) -charged by the exchange to handle the ``/extensions/auction`` request. The -fees should be covered by the seller. We note that the transcript inherently -contains the deposit confirmations originally issued by the exchange for the -auction. So, the exchange can identify all of the coins that were escrowed (it -should also double-check that the coins were escrowed for the correct -auction). It then refunds the bids from the loosing bidders, pays the price -to the seller from the winner (minus auction fee), and partially refunds the -winner the difference between the escrowed amount and the winning bid. +again (using libbrandt), again determining the winner and price. The extension +configuration (and thus ``/keys``) may stipendulate some fee(s) charged by the +exchange to handle the ``/extensions/policy_auction`` request. The fees should +be covered by the seller. We note that the transcript inherently contains the +deposit confirmations originally issued by the exchange for the auction. So, +the exchange can identify all of the coins that were escrowed (it should also +double-check that the coins were escrowed for the correct auction). It then +refunds the bids from the loosing bidders, pays the price to the seller from +the winner (minus auction fee), and partially refunds the winner the difference +between the escrowed amount and the winning bid. .. note:: |